Apartment for rent sign, [Blacqbook]/[iStock / Getty Images Plus] via Getty Images"Apartment for rent sign, Blacqbook/[iStock / Getty Images Plus via Getty Images

Average asking rent falls in Windsor from a year ago

A new report by Rentals.ca and Urbanation suggests rent increases dropped five per cent in Windsor last month from June 2024.

The National Rent Report looked at national and provincial trends and the rate of increases in Canada's largest urban centres.

Overall, it said the average monthly rent for all residential properties increased by seven per cent across the country to $2,185. While that may not sound like positive news to Canadian renters, it is the slowest annual rate of growth in 13 months. On a month-by-month basis, they decreased 0.8 per cent, the most significant drop since early 2021 during the COVID-19 pandemic.

"Rents at the national level are clearly levelling out," said Urbanation President Shaun Hildebrand. "Strong rent increases are mainly limited to inexpensive cities, particularly in the Canadian Prairies, while larger markets dealing with severe affordability issues are seeing rents slow or fall."

The average rent in Windsor was $1,630. For a studio apartment, it was $1,351, $1,531 for a one-bedroom unit, $1,802 for two bedrooms, and $2,018 for three bedrooms.

While the average monthly rent for a studio unit climbed nine per cent, it fell 17 per cent for a three-bedroom apartment from June 2023.

The National Rent Report charts and analyzes monthly, quarterly, and annual rates and trends in the rental market on national, provincial, and national levels.

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